CoFo Lab Market Watch: Faith No More

Analysis and Forecasts
2024-03-23 14:50:05

The budding uptrend failed to gain traction. As bears dial up pressures, bulls continue amassing firepower.


Analysis of CoFo Scout Readings


Upside correction swiftly depleted long signals. Fresh buyer influx proved inadequate to propel a sustained bullish swing. Sellers capitalized on this vulnerability.


Strident global bearish skew remains, offset partly by still-potent medium-term longs albeit waning. Lower timeframes disjointed — feeble longs and shorts sharing dominance.


Fracturing more evident under the hood — assets lacking timeframe synchronicity across the board.


Per indicators, awaiting clear intraday directional conviction is prudent. Plan trades off those cues. A local long resurgence won't be squandered by bulls to regain control.

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